GDP can be calculated in three different ways, which of the following option is incorrect?A.GDP calculation methods include expenditure method, income method, and value-added (production) method.B.In Income method, the GDP calculating formula is   Y=wages+ firm profitsC.In Value-added (production) method, GDP equals to the sum of value added by all firms where value added is VA=revenue-input cost- wages+ profitsD.In Expenditure method, Y=C+I+G+NX

In the first class, we learned different approaches to measuring GDP. Which of the following methods are commonly used to calculate GDP？This is a multi answer question. You can select one or more options as the answer.A.Expenditure methodB.Income methodC.Value-added (production) methodD.Product calculation method

Which of the following is NOT true for a country’s GDP calculation using the expenditure method?Question 27Select one:a.The higher the value of exports (X) the higher the higher the value of GDP.b.The higher the value of investment spending (I) the higher the value of GDP.c.The higher the value of government spending (G) the higher the value of GDP.d.The higher the value of consumption spending (C) the higher will be the value of GDP.e.The higher the value of imports (M) the higher the higher the value of GDP.

Which of the following is not investment when calculating GDP using the expenditure method is: A. Firm A adds inventory B. Firm B builds a new factory C. Firm C purchases a computer D. Firm D purchases government bonds

The expenditure approach is normally linked to which of the following?Multiple choice question.GDP at market pricesGDP at factor costGDP at basic pricesGDP at factories cost

Calculate GDP with expenditure approach.